Praxis Investment Management Inc. Lowers Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Praxis Investment Management Inc. decreased its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 43.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,670 shares of the software maker's stock after selling 2,050 shares during the period. Praxis Investment Management Inc.'s holdings in Insight Enterprises were worth $400,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of Insight Enterprises by 2.4% during the fourth quarter. Rhumbline Advisers now owns 82,198 shares of the software maker's stock valued at $12,502,000 after purchasing an additional 1,925 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Insight Enterprises by 42.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 14,031 shares of the software maker's stock worth $2,134,000 after purchasing an additional 4,155 shares during the last quarter. Principal Financial Group Inc. grew its position in Insight Enterprises by 1.2% in the 4th quarter. Principal Financial Group Inc. now owns 143,544 shares of the software maker's stock worth $21,833,000 after purchasing an additional 1,653 shares during the period. CIBC Asset Management Inc raised its stake in Insight Enterprises by 78.6% during the 4th quarter. CIBC Asset Management Inc now owns 2,861 shares of the software maker's stock valued at $435,000 after buying an additional 1,259 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Insight Enterprises by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 260,838 shares of the software maker's stock valued at $39,674,000 after buying an additional 21,876 shares during the last quarter.

Insight Enterprises Stock Performance

NSIT traded up $1.19 during trading on Thursday, hitting $135.79. The company's stock had a trading volume of 140,747 shares, compared to its average volume of 328,298. The business's 50 day simple moving average is $134.17 and its 200-day simple moving average is $148.56. The firm has a market cap of $4.34 billion, a PE ratio of 27.16, a P/E/G ratio of 1.25 and a beta of 1.20. Insight Enterprises, Inc. has a one year low of $126.10 and a one year high of $228.07. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.60.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.06 EPS for the quarter, topping the consensus estimate of $2.03 by $0.03. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. Insight Enterprises had a return on equity of 18.50% and a net margin of 2.26%. Insight Enterprises's revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.37 EPS. As a group, sell-side analysts predict that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal year.

Analyst Ratings Changes

NSIT has been the topic of a number of research reports. Barrington Research restated an "outperform" rating and issued a $164.00 price target on shares of Insight Enterprises in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lowered their target price on Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $185.00.

Insight Enterprises Company Profile

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.